For Q1FY2010, Bajaj Auto (BAL) clocked net sales of Rs2,339 crore (Rs2,311cr), up 1.2% y-o-y, which was in line with our expectation.
Total volumes for the quarter declined 11.7% y-o-y while average realisations per vehicle improved substantially by almost 10.7% y-o-y primarily due to the change in product mix and better performance by the 125cc-plus segment.
Growth in the 125cc-plus Segment was however, offset by poor performance by the 100cc Segment.
BAL’s bottomline for the quarter at Rs293.5 crore (Rs175.1cr) also came in substantially better than our estimate.
Substantial jump in OPM, benefit of exchange rate on exports and lower Tax during the quarter aided Net Profit growth.
Click here to read a detailed report